Regent Communications ups earnings forecast

Regent Communications Inc. said its first quarter results will be slightly better than originally anticipated, and will beat analyst forecasts.

The Covington, Ky.-based radio broadcaster, which has five stations in the Albany, N.Y. market, said it would have revenue in the $12.9 to $13 million range, with broadcast cash flow between $2.9 million and $3 million. It originally forecast revenue of between $12.8 and $13.1 million, and broadcast cash flow of $2.5 million to $2.7 million.

On a same-station basis, Regent expects first quarter revenue to be down 2 percent from the first quarter of 2001. It had said same-station revenue would be down 5 percent.

The company also expects to report first quarter earnings of no cents per share. Excluding the gain on its February sale of Albany station WGNA, 1460 AM to Radio Disney, the company forecasts a loss of 1 cent a share. It originally had projected a loss of 2 cents a share, and analysts had forecast a loss of 2.3 cents.